Suncor Energy (TSE:SU) Stock Price Expected to Rise, Raymond James Analyst Says

Suncor Energy (TSE:SU) (NYSE:SU) had its price objective upped by Raymond James from C$52.00 to C$56.00 in a research report released on Thursday,BayStreet.CA reports. Raymond James also issued estimates for Suncor Energy’s FY2024 earnings at $5.29 EPS, FY2025 earnings at $4.86 EPS and FY2028 earnings at $4.51 EPS.

Other equities research analysts have also recently issued reports about the stock. Desjardins boosted their price target on shares of Suncor Energy from C$56.00 to C$59.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada upped their target price on Suncor Energy from C$64.00 to C$66.00 in a report on Thursday. BMO Capital Markets raised Suncor Energy from a “market perform” rating to an “outperform” rating and set a C$62.00 price target for the company in a research report on Wednesday, August 7th. Scotiabank boosted their price target on Suncor Energy from C$59.00 to C$62.00 in a research report on Wednesday, November 13th. Finally, TD Securities upped their price objective on Suncor Energy from C$60.00 to C$62.00 in a research note on Wednesday, November 13th. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$61.54.

Suncor Energy Trading Up 0.3 %

TSE:SU opened at C$57.00 on Thursday. The business has a 50 day moving average price of C$52.72 and a two-hundred day moving average price of C$53.12. The company has a quick ratio of 0.83, a current ratio of 1.46 and a debt-to-equity ratio of 34.98. The company has a market cap of C$72.39 billion, a P/E ratio of 9.79, a price-to-earnings-growth ratio of 0.15 and a beta of 1.47. Suncor Energy has a twelve month low of C$40.07 and a twelve month high of C$57.50.

Suncor Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.545 per share. This represents a $2.18 annualized dividend and a yield of 3.82%. The ex-dividend date of this dividend was Wednesday, September 4th. Suncor Energy’s dividend payout ratio is 37.46%.

About Suncor Energy

Suncor Energy Inc operates as an integrated energy company in Canada, the United States, and internationally. It operates through Oil Sands; Exploration and Production; and Refining and Marketing segments. The Oil Sands segment explores, develops, and produces bitumen, synthetic crude oil, and related products.